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UPDATES&INSIGHTS: TAX – January 2020

UPDATES&INSIGHTS:TAX is a HoganTaylor Tax practice publication designed to help you keep up with the latest tax issues impacting your organization.

In This Issue:

Determining an Employee’s “Home” for Reimbursement Purposes

Despite the prevalence of web-based meetings, many of today’s businesses still have plenty of employees who travel. For companies that reimburse employees on a tax-free basis for travel expenses, it’s important to stay up to date on the rules that determine the location of a person’s tax home. This article discusses the IRS’s three-factor test to determine whether an employee with no principal workplace has a tax home or is an itinerant. Read More

Do You Know Your Tax Bracket?

The Tax Cuts and Jobs Act generally reduced individual tax rates through 2025, but some taxpayers have actually seen their taxes go up because of reductions or eliminations of certain tax breaks. This brief article explains why it’s important for taxpayers to know their brackets. Read More

Every Business Owner Needs an Exit Strategy

Business owners must monitor the cash flow and tax positions of their companies, while also looking out for their own personal financial futures. This article looks at how to lay the foundation for a strong exit strategy using a buy-sell agreement and family-focused succession planning techniques. Read More

Tax Calendar

This calendar notes important tax deadlines for the first quarter of 2020. Read More

What to Do About Fraudulent Credit or Debit Card Charges

It’s an awful feeling for anyone to learn that his or her credit or debit card has been used fraudulently. Whether the cardholder is liable typically depends on the type of card, whether he or she still possesses the card and when the card issuer is alerted. This article provides further details. Read More